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Halifax to relaunch regular saver @10%+
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@ sloughflint....
I tried to open the Halifax 10% fixed rate regular saver about 6 months back...
When I opened it online the account number it gave me was not actually the number of the regular saver (10%) account, it was a linked "basic savings" account that I had to use to fund the regular saver or something like that.... sorry, it was ages ago and my recollection is hazy.
But anyway basically because I had used the account and sort code numbers they gave me, my money had just been going into the rubbish "basic saver" account and not to the "regular saver 10% account"....
So I had missed the opportunity to fund the 10% account (first payment had to be within 30 days of opening or something) so I just closed the account.0 -
thanks for the info btw all. if you're correct you may have saved me a fair bit of money! there was so much bad info in the branch when i opened this that each cashier i spoke to had to apologise for the previous one.0
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Anyway, this warrants a phone call
http://www.halifax.co.uk/bankaccounts/callback.asp
...assuming you can take one this morning?0 -
sloughflint wrote: »Oh dear, have they opened the wrong account for you? Mine definitely says 6.25% and same name Guaranteed Saver
If Jennifernil has the same, maybe you've both got a case to complain and all is not lost ( JN that is)
My historical rates just has the one entry 6.25% (17th July)
There will be a surge of people rushing to check their accounts now.....and possibly complaints to Halifax.
No, sorry if I have confused anyone, my linked account is a different one to the one you are discussing, mine is a variable rate.
At the time I opened my 10/12% saver (very near the closing date) the other account you are discussing was either not available or not suitable for me (cannot remember which now).
Am I the only one who finds the way HBOS name their accounts confusing?!
My linked account is now only paying 2.8%, so I am slightly better off having my £5k in a fixed 6.5% account and forgoing the extra 2% on my RS.0 -
i opened it with £50 on the 17/07/08 and then £4,950 on the 24/07/08. The conditions stated that £5000 needed to be in the Guaranteed Saver Reward account within 14 days of opening the Regular Saver account to qualify for the full rate.
Those are the conditions to get the 12% rate on the Regular Saver, which you should therefore get.
However, the Guaranteed Saver Reward conditions state that once the balance falls below £2500, the account will become a standard Guaranteed Saver (i.e. variable rate) account. On 17/7, your balance was £50, so this meant the account automatically lost it's Reward status.
Unfortunately, I don't expect complaining will do any good. The T&Cs were broken, so the account became variable rate. On the plus side though, your 12% on the Regular Saver should be safe!0 -
efunc, it's not looking good for you.
From the original T&C's that opinions4u posted earlier...If you do not keep at least £2,500 in your Halifax Guaranteed Saver account, the interest paid will be at least the same as Halifax Instant Saver
Minimum deposit to open -
£2,500. (This does not apply to under 21s).Looks like you 'opened' your account with less than £2,500 (ie, £50) and so you may have a Halifax Instant Saver account (if not in name, possibly by interest rate)?0 -
Many thanks for the clarity given here. I assumed for some reason that the Guaranteed saver was a variable and low interest rate account. It is confusing that the rate quoted online and in branch by Halifax at 2% is incorrect but now I shall be moving more funds into this account for it's remaining 6 months of validity at 6,25%. Wish I'd known this a few months ago though,0
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I opened a 10% Regular Saver in July - how do you link an account to the regular saver? If I don't have a nominated account for the savings to go into when it finishes, what happens to my money? Where does it go to? Or does it stay locked in there?Mortgage started July 2010 = £223,314
Mortgage @ March 2014 = £0
MFiT-T3 No.81
Mortgage-Free challenge completed.
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I believe you have to have a linked account, and therefore Halifax probably would have opened you something like a variable Web Saver account at the same time as they opened the Regular Saver.0
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Thanks for your reply.
They did open a guaranteed saver account at the same time, but it got closed because I didn't have the minimum amount required to deposit at the time to keep it open. Is it too late now to link another account to my Regular Saver? If I open a web saver account, can I nominate that through online banking?Mortgage started July 2010 = £223,314
Mortgage @ March 2014 = £0
MFiT-T3 No.81
Mortgage-Free challenge completed.
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